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2022 Highlights

Principles of Governance

46% overall diversity across our Board of Directors, including 31% female and 31% racially or ethnically diverse*
5 key ESG areas covered in Directors’ annual self-evaluations, with 100% of Directors identifying themselves as having “considerable” or “extensive” experience in at least 1 area
7 years average Director tenure
92% of our Directors are independent
244,134 hours of Mandatory Annual Compliance (MAC) training completed by Regions associates

* “Overall” includes gender, race/ethnicity, and sexual orientation; represents Board composition as of the 2023 Annual Meeting of Shareholders held on April 19, 2023.

  • We apply our robust governance practices to our ESG decision-making on an ongoing basis, putting ESG into perspective for our internal experts as they carry out various oversight and execution responsibilities. This has included identifying ESG considerations within our broader business and operations, including our strategic planning and risk framework.
  • To that end, our Board of Directors and each of its 5 standing committees oversee various aspects of ESG, which are formalized in our Corporate Governance Principles and separate Board committee charters. Members of management further enable effective Board-level ESG oversight by providing the Board and its committees with regular updates on our ESG-related initiatives.
  • Our Board’s new Technology Committee was formed in February of 2022 to enable Board-level oversight of Regions’ transformation and modernization efforts, including central organizational changes.
  • We also welcomed 3 new Directors in 2022, deepening the diverse range of skills, experience, and perspectives that we believe contribute to an engaged, well-balanced Board.
  • As part of our broader commitment to transparency and accountability, we continuously strive to enhance the processes we use to compile and control our ESG-focused disclosures — including this report. Those improvements include leveraging internal expertise to support both narrative quality and data integrity.
  • We provide our associates with directed educational opportunities to help them better understand the business of banking, the risks Regions faces, and our responsibilities to our customers. In addition to job-specific training, each Regions associate is required to complete 6 MAC courses that cover topics such as business ethics, fundamental risk management, fair and responsible banking, financial crimes risk management, information security, and privacy.

People

  • We recognize that a diverse, equitable, and inclusive workforce is essential to maintaining a thriving company and serving an increasingly diverse marketplace. To support this effort, in 2022, we introduced our 3 DEI Areas of Impact — Marketplace, Workplace, and Workforce — to help align our DEI strategic priorities in an easily translatable way.
  • Our associates reported year-over-year improvements across all of the areas evaluated in our 2022 Associate Engagement Survey, including those related to performance management, wellbeing, and DEI. We use our engagement framework to empower our people leaders through our Associate Engagement Champions community of practice.
  • We believe every associate can be a leader. Our new leadership competency framework, the RegionsLEADS Cornerstones of Leadership, focuses on building and deepening leadership skills for associates in any position, within any business unit. This model was constructed using a culture study, associate focus groups, listening tours, and executive input.
  • Our associates are able to further their education while building their career through our new relationship with Guild. The Guild program provides associates with the opportunity to attend classes, tuition-free, from their first day of employment with Regions.
  • We have established a DEI Executive Council to help us drive the Company’s overall success by linking our DEI priorities to broader business strategies.
72% diverse representation (gender and minority) across workforce,including 62% female and 36% members of a minority demographic
$18 million investment in talent management and development programs
>90% of associates participate in our 401(k) Plan
70+ undergraduate degree programs available tuition-free to associates through our Guild program
4.44/5 grand mean for 2022 Associate Engagement Survey
19 Diversity, Equity, & Inclusion (DEI) Networks representing 71% of associates across 25 markets

Prosperity

2.1 million people received financial education through Regions Next Step®
3.3 million online page views of Regions’ digital financial education resources
$2.4 billion in Community Reinvestment Act (CRA)-qualified community development lending & investments
$53 million invested in new debt & equity commitments by the Regions Community Development Corporation®
$22 million in combined grants & contributions from Regions Bank and the Regions Foundation®
74,000 volunteer service hours logged by Regions associates in our communities
  • We provide consumers with access to alternative financial services from a trusted financial institution through our Regions Now Banking® suite of products and services. These services do not require a consumer to have an existing account relationship with us while offering a pathway to becoming fully banked in the future.
  • Our Regions Next Step program promotes financial wellness by providing free and widely available financial education resources, including workshops and online tools. These resources are based on a common framework to support students and adults at various life stages and income levels, as well as businesses of all sizes.
  • To support homeownership within the communities we serve, we continue to expand our Community Lending Program and Affordable Mortgage lending. Our Affordable Mortgage suite of portfolio products seeks to meet the needs of low- and moderate-income (LMI) borrowers within our emerging markets.
  • Through Regions Bank and the Regions Foundation, we more than doubled our initial 2-year, $12 million commitment to programs and initiatives that promote racial equity and economic empowerment of communities of color. These investments focused on objectives such as strengthening community development financial institutions (CDFIs) and minority depository institutions (MDIs); growing minority-owned businesses; and reducing the digital divide.
  • We promote inclusive prosperity through the Regions Foundation, which provides grants and contributions towards initiatives that reduce barriers to economic success.
  • The Regions Community Development Corporation provides debt and equity financing for projects and entities that serve a community development purpose, such as those geared towards affordable housing development, economic revitalization, and support for LMI small businesses and individuals.

Planet

  • We seek to operate our business responsibly through opportunities to increase our operational efficiency. Accordingly, we continue to demonstrate progress towards our goal to reduce our operational GHG emissions. We are leveraging a number of ongoing initiatives, including optimizing our real estate portfolio, to help us achieve this target.
  • Providing exceptional customer service includes offering products and services that our customers and clients can use to meet their own sustainability goals. We offer lease financing for utility scale and commercial solar projects through our Solar Tax Equity Finance Team, in addition to ENRG’s tailored financings and credit facilities. Regions also serves sustainability-minded clients through asset management products and services, including those available through our NRRE group.
  • A significant portion of our footprint lies in parts of the U.S. that are susceptible to severe weather events, which have the potential to disrupt our own operations and adversely impact our stakeholders. For the past three years, we have performed an annual geospatial analysis to assess the potential impact of acute and chronic physical risks on our business operations and real estate portfolios. We discuss this analysis and our findings in our 2022 TCFD Report.
  • Our strategic emphasis on digital acceleration and omnichannel delivery has translated into broader adoption of our eSignature functionality and ongoing enhancements to our mobile and digital banking. The increased convenience and security of these opportunities has also enabled us to reduce expenses tied to paper use.
36% reduction in our gross Scope 1 and Scope 2 greenhouse gas (GHG) emissions since 2019, with the goal to reach 50% reduction by 2030
$493 million in customized financings committed or closed by our Energy & Natural Resources Group (ENRG)
$224.8 million in funding for photovoltaic (PV) solar projects provided through our Solar Tax Equity Finance Team
$1.4 billion in energy efficient consumer home improvement projects financed by EnerBank
54 funds available through the Multi-Asset Solutions group classified as “Impact,” “Sustainable,” or “Responsible”
6 million trees planted through the coordination of our Natural Resources & Real Estate (NRRE) group
$4.43 million in energy efficiency investments